Subchapter S corporations (“Sub S”), partnerships, limited liability companies (“LLC’s”) and estates and trusts issue form K-1’s. This form documents the stockholders, partners, members or beneficiaries share of their profit or loss from the entity. Don’t wait for this form to get started on your income tax return.

1)Be Prepared

Ah yes, the Boy Scout Motto, “Be Prepared”. It is very applicable to surviving tax season. How can you get prepared? Start with completing your tax organizer. We send these out to our clients in early January. This will contain all of the prior year information. Some clients don’t like filling out the tax organizer. That’s fine. … Continue reading »

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